I'm in my 60s; why can I release only a small percentage of my property's value?
Published 18/03/2016 11.42 AM | Updated 01/11/2017 01.05 AM
If you take out a lifetime mortgage, the longer you live, the larger your outstanding debt. This is because with the lifetime mortgages available from LV= the interest is added to your loan rather than repaid. Because of this, as a general rule of thumb, your mortgage debt could double every ten years.
Did we answer your question?